Trump Signs Bill Blocking IRS Crypto Tax Rule Biden Pushed

President Donald Trump signed legislation to block an Internal Revenue Service rule that would have forced some cryptocurrency brokers to provide tax information on transactions conducted on their platforms, delivering another victory to the digital asset industry he has vowed to champion in office.

The IRS reporting rule — not yet in force — was due to take effect in 2026, but it had already sparked furious opposition from the crypto industry. The regulation required certain decentralized exchanges to report their customers’ gross sales of digital assets to the IRS.

Donald Trump

Photographer: Brett Carlsen/Bloomberg

Crypto industry advocates argued that decentralized exchanges can’t be ...